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ICR Inc. is handling Ruby Tuesday as the sit-down casual dining format restaurant chain says farewell to the stock market, agreeing to be acquired by Atlanta-based NRD Capital private equity firm for about $335M.
Sales at the 600-unit Maryville, TN-based chain have been on the decline as younger consumers view the RT brand as dated, preferring delivery, fast-serve casual chains (Chipotle, Shake Shack) and eating at home.
RT posted a 15.3 percent dive in Q1 sales (ended Sept. 5) to $217.3M and suffered a $9.8M net loss.
The NRD deal, according to Stephen Sadove, RT non-executive chairman, provides “the most promising opportunity to realize the highest value for our stockholders, while providing the best path forward for the RT brand, employees, franchises and loyal customers.”
ICR’s Christine Beggan works media, while Melissa Calandruccio handles investors in the takeover deal.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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